Sun Life Unit to Pay U$3.8 Mln to Settle SEC Sales Allegations

Bloomberg, 13 July 2006A U.S. brokerage unit of Sun Life Financial Inc., Canada's second-largest life insurer, agreed to pay $3.8 million to settle claims it failed to adequately tell customers how it was paid to sell investment products.IFMG Securities sold mutual funds and variable annuities for as many as 17 companies through a ``preferred'' program, the U.S. Securities and Exchange Commission